Short Interest in Astec Industries, Inc. (NASDAQ:ASTE) Declines By 9.5%

Astec Industries, Inc. (NASDAQ:ASTE) saw a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 1,189,100 shares, a decline of 9.5% from the April 30th total of 1,313,400 shares. Currently, 5.3% of the company’s stock are sold short. Based on an average daily trading volume, of 200,100 shares, the short-interest ratio is currently 5.9 days.

In related news, insider Jaco Van Der Merwe bought 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $32.75 per share, with a total value of $65,500.00. Following the completion of the transaction, the insider now directly owns 4,579 shares in the company, valued at $149,962.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.80% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in ASTE. Public Employees Retirement System of Ohio increased its stake in Astec Industries by 18.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,949 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 297 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Astec Industries by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 16,092 shares of the industrial products company’s stock worth $486,000 after acquiring an additional 353 shares during the last quarter. Texas Permanent School Fund increased its stake in Astec Industries by 2.7% in the 4th quarter. Texas Permanent School Fund now owns 14,919 shares of the industrial products company’s stock worth $450,000 after acquiring an additional 388 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Astec Industries by 29.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,737 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 391 shares during the last quarter. Finally, Redmond Asset Management LLC increased its stake in Astec Industries by 6.9% in the 1st quarter. Redmond Asset Management LLC now owns 7,247 shares of the industrial products company’s stock worth $274,000 after acquiring an additional 470 shares during the last quarter. Institutional investors own 92.88% of the company’s stock.

Shares of NASDAQ ASTE traded up $0.87 during trading on Friday, reaching $31.83. 113,480 shares of the stock traded hands, compared to its average volume of 133,383. Astec Industries has a 52-week low of $27.86 and a 52-week high of $62.06. The company has a debt-to-equity ratio of 0.09, a current ratio of 3.02 and a quick ratio of 1.10. The firm has a 50-day moving average of $30.68. The stock has a market cap of $717.13 million, a PE ratio of 10.90 and a beta of 1.47.

Astec Industries (NASDAQ:ASTE) last released its quarterly earnings data on Tuesday, April 23rd. The industrial products company reported $0.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.19). Astec Industries had a negative net margin of 5.67% and a positive return on equity of 9.53%. The company had revenue of $325.78 million for the quarter, compared to the consensus estimate of $338.68 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts anticipate that Astec Industries will post 2.34 earnings per share for the current year.

Several research firms have weighed in on ASTE. BidaskClub cut ZIX from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 7th. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $52.00.

Astec Industries Company Profile

Astec Industries, Inc designs, engineers, manufactures, and markets equipment and components for the road building, aggregate processing, geothermal, water, oil and gas, and wood processing industries in the United States and internationally. The company's Infrastructure Group segment provides hot-mix asphalt plants, wood pellet plants, asphalt pavers, material transfer vehicles, soil stabilizing reclaiming machinery, milling machines, paver screeds, and related ancillary equipment.

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